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2022 SESSION

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Senate Committee on Finance and Appropriations

Chair: Janet D. Howell

Clerk: Michael Jackson,Thomas Jackson
Date of Meeting: February 15, 2022
Time and Place: 9 AM - Shared Committee Room B / Pocahontas Building
https://virginia-senate.granicus.com/ViewPublisher.php?view_id=3

H.B. 3

Patron: Ware

Sales tax exemption; gold, silver, and platinum bullion. Removes the sunset date for the sales tax exemption for gold, silver, and platinum bullion and legal tender coins whose sales price exceeds $1,000. Under current law, the exemption will expire on June 30, 2022.

A BILL to amend and reenact § 58.1-609.1 of the Code of Virginia, relating to sales tax exemption; gold, silver, and platinum bullion.

22100636D

H.B. 148

Patron: Runion

Certified pollution control equipment; certification by subdivisions. Provides that for pollution control equipment to be used as part of a political subdivision's water, wastewater, stormwater, or solid waste management facilities or systems, such equipment may be certified by the political subdivision itself instead of by the state certifying authority.

A BILL to amend and reenact §§ 58.1-609.3 and 58.1-3660 of the Code of Virginia, relating to certified pollution control equipment; certification by subdivisions.

22101273D

H.B. 165

Patron: Knight

Bonds for public institutions of higher learning; emergency. Authorizes issuance of bonds in an amount up to $100,869,000 for revenue-producing capital projects at James Madison University and Virginia Polytechnic Institute and State University. The bill contains an emergency clause.

A BILL to authorize the issuance of bonds, in an amount up to $100,869,000 plus financing costs, pursuant to Article X, Section 9 (c) of the Constitution of Virginia, for paying costs of acquiring, constructing, and equipping revenue-producing capital projects at institutions of higher learning of the Commonwealth; to authorize the Treasury Board, by and with the consent of the Governor, to fix the details of such bonds, to provide for the sale of such bonds, and to issue notes to borrow money in anticipation of the issuance of the bonds; to provide for the pledge of the net revenues of such capital projects and the full faith, credit, and taxing power of the Commonwealth for the payment of such bonds; to provide that the interest income on such bonds and notes shall be exempt from all taxation by the Commonwealth and any political subdivision thereof; emergency.

22102930D

EMERGENCY

H.B. 166

Patron: Knight

Capital outlay plan. Updates the six-year capital outlay plan for projects to be funded entirely or partially from general fund-supported resources.

A BILL to create a six-year capital outlay plan for projects to be funded entirely or partially from general fund-supported resources and to repeal Chapter 94 of the Acts of Assembly of 2021, Special Session I.

22103009D

H.B. 269

Patron: Byron

Income tax; major business facility job tax credit; sunset. Extends the sunset of the major business facility job tax credit from July 1, 2022, to July 1, 2025.

A BILL to amend and reenact § 58.1-439 of the Code of Virginia, relating to income tax; major business facility job tax credit; sunset.

22102762D

H.B. 298

Patron: Rasoul

Delinquent tax lands; disposition. Authorizes localities to have a special commissioner appointed to, in lieu of a sale at public auction, convey certain real estate having delinquent taxes or liens to a land bank entity or nonprofit designated to carry out the functions of a land bank entity. Currently, such real estate may only be conveyed to the locality itself. The bill also allows real estate that contains a derelict building and has delinquent taxes and liens exceeding 10 percent of its value to be conveyed via special commissioner in lieu of a sale at public auction.

A BILL to amend and reenact § 58.1-3970.1 of the Code of Virginia, relating to delinquent tax lands; disposition.

22105438D

H.B. 324

Patron: Williams Graves

Shipping and Logistics Headquarters Grant Program. Updates some provisions of the Shipping and Logistics Headquarters Grant Program to reflect changes in the agreement between the Commonwealth and a qualified company.

A BILL to amend and reenact § 59.1-284.39 of the Code of Virginia, relating to the Shipping and Logistics Headquarters Grant Program.

22102776D

H.B. 462

Patron: Austin

Sales and use tax exemption; aircraft components. Eliminates the sunset date for the sales and use tax exemption for parts, engines, and supplies used for maintaining, repairing, or reconditioning aircraft or any aircraft's avionics system, engine, or component parts.

A BILL to amend and reenact § 58.1-609.10 of the Code of Virginia, relating to sales and use tax exemption; aircraft components.

22105491D

H.B. 473

Patron: Bulova

Virginia Retirement System; employer contributions. Separates the employer contribution for Virginia Retirement System (VRS) employers participating in the Hybrid Retirement Plan into defined benefit and defined contribution components. The bill requires the Board of Trustees of the VRS to certify to each employer their defined benefit contribution rate and to provide to each employer their estimated defined contribution amounts.

Under current law, VRS is required to determine a single combined employer contribution rate that includes both the defined benefit and defined contribution provisions. Employer contributions are then applied first to the defined contribution component of the hybrid retirement program, with the remainder applied to the defined benefit component.

The substantive provisions of the bill have a delayed effective date of July 1, 2024. However, the bill directs the VRS to make the preparations necessary for full implementation of the act beginning July 1, 2022.

A BILL to amend and reenact § 51.1-145 of the Code of Virginia, relating to Virginia Retirement System; employer contributions.

22100416D

H.B. 518

Patron: Head

Sales and transient occupancy taxes; accommodations intermediaries. Changes the process by which sales and transient occupancy taxes are collected from accommodations sales involving accommodations intermediaries. Under current law, accommodations intermediaries remit these taxes to the Department of Taxation or a locality, or a hotel, depending on the circumstances. The bill requires accommodations intermediaries to collect such taxes and remit them to the Department of Taxation or a locality, as applicable. The bill also provides that in a transaction involving multiple parties that may be considered accommodations intermediaries, such parties may agree that one party shall be responsible for collecting and remitting the taxes. In such event, the party agreeing to collect and remit such taxes shall be the sole party liable for the tax.

The bill also broadens the definition of accommodations intermediary. The bill directs the Department of Taxation to publish guidelines on implementation of the bill by August 1, 2022. The substantive provisions of the bill have a delayed effective date of October 1, 2022.

A BILL to amend and reenact §§ 58.1-602, 58.1-612.2, and 58.1-3826 of the Code of Virginia, relating to sales and transient occupancy taxes; accommodations intermediaries.

22105919D

H.B. 791

Patron: McNamara

Property tax; data centers. Provides that if data center fixtures are taxed as part of the real property where they are located, they shall be valued based on depreciated reproduction or replacement cost, rather than based on the amount of income they generate.

A BILL to amend and reenact § 58.1-3500 of the Code of Virginia and to amend the Code of Virginia by adding in Article 7 of Chapter 32 of Title 58.1 a section numbered 58.1-3295.3, relating to property tax; data centers.

22104312D

H.B. 936

Patron: Batten

Sales tax exemption; gold, silver, and platinum bullion. Removes (i) the sunset date for the sales tax exemption for gold, silver, and platinum bullion and legal tender coins and (ii) the limitation that only purchases in excess of $1,000 are eligible for the exemption. Under current law, the exemption will expire on June 30, 2022.

A BILL to amend and reenact § 58.1-609.1 of the Code of Virginia, relating to sales tax exemption; gold, silver, and platinum bullion.

22102736D

H.B. 971

Patron: Byron

Conformity of the Commonwealth's taxation system with the Internal Revenue Code; Rebuild Virginia grants and Paycheck Protection Program loans; emergency. Advances Virginia's date of conformity with the Internal Revenue Code from December 31, 2020, to December 31, 2021. The bill also deconforms from provisions of the (i) federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) related to the net operating loss limitation and carryback, a loss limitation applicable to taxpayers other than corporations, the limitation on business interest, and certain loan forgiveness and other business financial assistance and (ii) federal American Rescue Plan Act related to restaurant revitalization grants and emergency injury disaster loans received for taxable years beginning before January 1, 2021. The bill also increases from $100,000 to $1 million the maximum individual and corporate income tax deduction or subtraction, as applicable, for Rebuild Virginia grants and certain amounts related to Paycheck Protection Program loans for taxable year 2020. The bill contains an emergency clause.

A BILL to amend and reenact §§ 58.1-301, 58.1-322.02, 58.1-322.03, and 58.1-402 of the Code of Virginia, relating to conformity of Commonwealth's taxation system with Internal Revenue Code; Rebuild Virginia grants and Paycheck Protection Program loans; emergency.

22105507D

EMERGENCY